- Back in 2013, the high speed rail advocates claimed that the entire project would cost $33 billion.
- Five short years later the current estimate has more than doubled to $77 billion.
- The estimated completion date is now pushed out to 2033.
- Given that the estimated cost more than doubled in five years, how much do you think the project will actually cost 15 years from now, assuming that the effort still exists?
- While trying to build a fairy tale high speed rail line, the state needs at least a whopping $177 billion to fix the state’s roads and bridges.
- So in order to fix the existing and build the new transportation infrastructure, the state government needs to spend over a quarter TRILLION dollars in ten years.
- Given that there are just over 11 million households in the state, every state household would have to write a check for $22,000 to pay for these infrastructure needs, ASSUMING that these costs do not rise over the years, a highly unlikely occurrence.
- Within the next ten years, the Federal government will likely be spending over $900 billion a year just on the interest being generated by the national debt according to the Congressional Budget Office.
- This comes down to over $7,000 a year for EVERY U.S. household.
- That $900 billion will likely be more than what will be spent on defense, Medicaid and children programs.
- This is $900 billion that cannot be spent on real needs including infrastructure, education, and other vital necessities.
- In 2019, the cost of national debt interest will be $390 billion, up a whopping 50% since 2017.
- While the Federal government national debt to GDP ratio has historically been between 30% and 40% in peace times, under Obama it skyrocketed upwards to over 70% in eight short years and will continue to grow unless drastic actions are taken.
- As stated in the article, “According to the CBO, interest payments will surpass Medicaid spending by 2020 and the Department of Defense budget by 2023.”
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